USDCHF: Swiss CPI may breathe some life into the Majors

MARKET SNAPSHOT:

ASIA ROUNDUP:

Asia FX trading saw the narrow ranges typically seen on a Monday following an eventful Friday from NYLON. NZDCHF was the biggest mover retracing against Friday's losses to be up 0.5%.
Following from the bearish equities them on Friday saw AUS200, Nikkei 225 and Hang Seng trade lower
The World Bank has forecast growth of 7.1% for Asia in 2014
33% of Small-Medium sized companies in Europe are feeling more confident about the recovery, up from 15% last month
AUD Job advertisments were up 1.4% from last month according to ANZ;
CNY Property companies in China, who are already over stretched, have been investing heavily in banks raising questions regarding their reasoning. It has raised concerns their motive is to gain preferential financing in future.
JPY JPY continued to appreciate during Asia to see ADJPY at a 4-day low and CHFJPY at a 6-day low.
NZD dThe Kiwi Dollar retraced some of the losses from Friday but still appears vulnerable to further losses against JPY and CAD.

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TECHNICAL ANALYSIS:

USDCHF: Swiss CPI may breathe some life into the Majors

I'll admit to struggling to find charts of particular interest today. However we do have CHF CPI which may provide some volatility at least as we have no scheduled 'red news' tonight.

We are within an uptrend and within a bullish wedge but for me to be interested in a long position I would like to see a retracement towards the daily Pivot and to see bullish reversal patterns at this support zone before targeting the Daily R1 Pivot.

0.8890-30 support zone comprises of the Daily Pivot; Weekly Pivot; H4 21eMA; - as long as we remain above here throughout today's session I prefer to seek bullish setups.

However if Asia trading is anything to go by then perhaps do not expect any 'home runs' and it is OK to not trade during a session if an opportunity does not present itself.

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